River Road Asset Management LLC Increases Stake in Salesforce, Inc. (NYSE:CRM)

River Road Asset Management LLC raised its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 4.7% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 30,483 shares of the CRM provider’s stock after purchasing an additional 1,355 shares during the quarter. River Road Asset Management LLC’s holdings in Salesforce were worth $10,191,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Infrastructure Capital Advisors LLC purchased a new position in Salesforce in the 3rd quarter worth approximately $27,000. Arlington Trust Co LLC raised its position in Salesforce by 85.1% in the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock valued at $29,000 after purchasing an additional 40 shares during the period. Compass Financial Services Inc purchased a new position in shares of Salesforce during the 4th quarter worth approximately $30,000. Asset Planning Inc purchased a new position in Salesforce during the 4th quarter valued at about $31,000. Finally, Collier Financial acquired a new position in shares of Salesforce in the fourth quarter valued at approximately $32,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CRM. Jefferies Financial Group lifted their price target on shares of Salesforce from $400.00 to $425.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Citigroup reiterated a “cautious” rating on shares of Salesforce in a research report on Thursday, February 27th. Truist Financial reissued a “buy” rating and set a $400.00 price target (up previously from $380.00) on shares of Salesforce in a report on Wednesday, December 4th. Robert W. Baird dropped their price target on Salesforce from $430.00 to $400.00 and set an “outperform” rating on the stock in a research report on Thursday, February 27th. Finally, Erste Group Bank upgraded shares of Salesforce from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, thirty-one have assigned a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $365.62.

Salesforce Price Performance

CRM opened at $277.40 on Wednesday. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00. The firm has a market cap of $266.58 billion, a price-to-earnings ratio of 45.63, a PEG ratio of 2.58 and a beta of 1.35. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The company has a fifty day simple moving average of $321.27 and a 200 day simple moving average of $309.03.

Insider Transactions at Salesforce

In other news, CFO Amy E. Weaver sold 6,221 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $301.00, for a total value of $1,872,521.00. Following the transaction, the chief financial officer now directly owns 46,750 shares in the company, valued at approximately $14,071,750. This trade represents a 11.74 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Sundeep G. Reddy sold 436 shares of the business’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total transaction of $144,874.08. Following the sale, the chief accounting officer now directly owns 7,057 shares of the company’s stock, valued at approximately $2,344,899.96. This represents a 5.82 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,108,793 shares of company stock valued at $383,156,227. Insiders own 3.20% of the company’s stock.

Salesforce Profile

Salesforce, Inc provides Customer Relationship Management (CRM) technology that brings companies and customers together worldwide. The company's service includes sales to store data, monitor leads and progress, forecast opportunities, gain insights through analytics and artificial intelligence, and deliver quotes, contracts, and invoices; and service that enables companies to deliver trusted and highly personalized customer support at scale.